Azerbaijan’s Milli Majlis (National Assembly) has approved at third reading measures to strengthen mechanisms for combating terrorism financing and clarify the liability of legal entities in this area.
The proposed amendments to the Criminal Code and Criminal Procedure Code were discussed at today’s plenary session of the parliament’s autumn session, Operative Information Center-OMM reports.
Under the bill, criminal-law measures will apply to a legal entity if an official commits the crime of financing terrorism in connection with their duties because the entity failed to organize oversight of financial transactions as required by law. The measures will apply regardless of whether the crime was committed for the legal entity’s benefit or to protect its interests.
The bill states that a key distinction between terrorism financing and other economic crimes is that its primary purpose is not to obtain financial or other economic gain, but to direct funds toward financing a terrorist act, terrorist organization or terrorist.
Following debate, lawmakers put the bill to a vote and adopted it at third reading.
